Letko Brosseau & Associates Inc. Increases Stock Position in Comcast Corporation $CMCSA

Letko Brosseau & Associates Inc. boosted its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,265,221 shares of the cable giant’s stock after buying an additional 101,975 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Comcast were worth $67,707,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CMCSA. Imprint Wealth LLC purchased a new position in Comcast during the third quarter worth about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Comcast during the fourth quarter worth about $27,000. United Financial Planning Group LLC purchased a new position in Comcast during the third quarter worth about $28,000. Olistico Wealth LLC purchased a new position in Comcast during the fourth quarter worth about $29,000. Finally, Richardson Financial Services Inc. boosted its stake in Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock worth $30,000 after buying an additional 691 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 0.4%

Shares of CMCSA opened at $23.85 on Wednesday. The company’s 50-day simple moving average is $26.58 and its 200-day simple moving average is $28.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. Comcast Corporation has a 1 year low of $23.13 and a 1 year high of $36.66. The stock has a market capitalization of $85.20 billion, a PE ratio of 4.69, a P/E/G ratio of 1.93 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio is presently 25.98%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BNP Paribas Exane reduced their price target on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 8th. Royal Bank Of Canada increased their price target on shares of Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. KeyCorp reissued a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research report on Wednesday, April 8th. Finally, Scotiabank increased their price target on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $34.56.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.